Public Procurement Service Announces 98 Construction Bids Including Seoul's 'Gukhoe-daero Underpass and Upper Park Project'

Status Data on Regional Restrictions and Mandatory Regional Joint Contracts by Region. Provided by the Public Procurement Service

[Asia Economy (Daejeon) Reporter Jeong Il-woong] The Public Procurement Service announced on the 6th that it will conduct bids for 98 construction projects worth approximately 832.7 billion KRW from the 7th to the 11th.

Among the projects up for bidding during this period is the "Construction of the National Assembly-daero Underpass and Upper Park (Phase 2)."

This project involves a total budget of 321.8 billion KRW over four years to newly construct an underpass along the section from Hwagok Overpass Intersection to Sinjeong-dong (National Assembly-daero) to Mok-dong (National Assembly-daero), install two pedestrian overpasses, and demolish the Seonyu Overpass as the core tasks.

The Seoul Metropolitan Government's Urban Infrastructure Headquarters expects that upon completion of this project in 2024, the creation of eco-friendly spaces such as parks, green areas, and bicycle paths will improve the quality of life for nearby residents.

Above all, the Urban Infrastructure Headquarters explained that the connection between Gangseo-gu and Yangcheon-gu will resolve the division between the two districts and is expected to promote active exchanges.

The Public Procurement Service plans to execute 85 of the total bids as region-restricted bids or region-mandatory joint contracts.

Through this, it is anticipated that local companies will secure contracts worth approximately 345.1 billion KRW (41% of the total construction cost).

The order scale by region is large, with Seoul at 292.5 billion KRW, Gyeongbuk at 145.8 billion KRW, and Chungbuk at 93.2 billion KRW, while a total of 301.2 billion KRW will be ordered in other regions.

This content was produced with the assistance of AI translation services.